KRX helps Kosdaq firms deal with stricter audit law

The nation’s sole bourse operator has been running an accounting program that helps firms listed on the secondary bourse Kosdaq deal with the reinforced external audit act.According to the Korea Exchange, the number of Kosdaq firms that faced the risk of delisting due to disclaimer of opinion this year increased 66 percent on-year to 30 firms. A disclaimer of opinion is issued when an auditor is unable to complete the audit report due to insufficient information provided by the company.&nb

MarketJune 25, 2019

NK leader's sister appears to take leadership role: Seoul's spy agency

Kim Yo-jong, sister of North Korean leader Kim Jong-un, appears to have been promoted to a leadership role, South Korea's spy agency said Tuesday.The status of Kim Yong-chol, who served as a chief negotiator in nuclear talks with the United States, also seems to have fallen, following the no-deal summit between the North's leader and US President Donald Trump, the National Intelligence Service (NIS) said in a closed-door briefing to lawmakers. Kim Yo-jong, who has assumed the No. 2 post of the r

North KoreaJune 25, 2019

[Newsmaker] Far-right campsite cleared from Gwanghwamun Square

The Seoul Metropolitan Government on Tuesday forcibly removed tents set up by a far-right minor party at Gwanghwamun Square in early May without a permit, only to have them reinstalled by the party amid fierce protests.　About 500 Seoul city officials and 400 contract demolition workers tore down the tents put up by Our Republican Party, formerly the Korean Patriots Party, on May 10 as part of its campaign calling for the release of former President Park Geun-hye, who is serving a 25-year jail te

Social AffairsJune 25, 2019

Fugitive chaebol chief might be dead: prosecutors

Chung Tae-soo, a former chaebol chief at the center of a 1990s corruption scandal that shook the country, might be dead, according to prosecutors Tuesday. Chung founded and headed Hanbo Steel, Korea’s second-largest steelmaker, until the company went bankrupt in January 1997, some 5.7 trillion won ($5 billion) in debt, despite government-ordered bailout loans from banks. Hanbo’s fall set off a cascade of collapse of major conglomerates, including Kia Motors and Daewoo, triggering the

Social AffairsJune 25, 2019

Korean astronomers discover asteroid that could potentially hit Earth

South Korean astronomers have discovered an asteroid that could potentially collide with Earth, although the odds are extremely low, marking the first finding of a hazardous asteroid by the country's scientists, a state-run science institute said Tuesday. The potentially hazardous astroid (PHA), provisionally labeled 2018 PP29, earlier this month by the International Astronomical Union Minor Planet Center was discovered via orbital data collected from the Korea Microlensing Telescope Network (KM

TechnologyJune 25, 2019

Nat'l short track speed skaters kicked out of training center over sexual harassment

The entire South Korean short track speed skating team has been expelled from the national training center over a sexual harassment incident involving two male athletes.According to the Korean Sport & Olympic Committee (KSOC), one male short track speed skater pulled down the pants of a younger male teammate during training while the female skaters were present on June 17 at the Jincheon National Training Center in Jincheon, 90 kilometers south of Seoul. The younger skater reported the incid

Social AffairsJune 25, 2019

S. Korea considers additional donation to global aid agencies to help N. Korea

The unification ministry said Tuesday that it is considering making an additional donation to global aid agencies to help North Korean people facing health and malnutrition problems.  In a report to lawmakers, the ministry said that donations could be made to such agencies as the UN Children's Fund (UNICEF) and the World Health Organization for their assistance projects in the impoverished North. Earlier this month, South Korea donated $8 million to the World Food Programme (WFP) and UNICEF

PoliticsJune 25, 2019

Rival parties fail to normalize parliament on LKP opposition

Rival parties failed to get the National Assembly back on track on Monday as the main opposition Liberty Korea Party (LKP) decided to reject a normalization deal initially agreed to between the floor leaders.It stymies earlier efforts by the party whips to resume the operation of the parliament at an impasse for nearly three months after wrangling over a push to place key reform bills on a fast-track.LKP floor leader Na Kyung-won said her party, after holding a general meeting, concluded that th

PoliticsJune 25, 2019

North Korea's Kim not ready to denuclearize - US intelligence agency

The US intelligence community does not believe North Korean leader Kim Jong Un is ready to denuclearize, US Defense Intelligence Agency Director Lieutenant General Robert Ashley told Fox News in an interviewon Monday. A summit in February between Kim and President Donald Trump collapsed when the two leaders were unable to bridge differences between US demands for denuclearization and North Korean demands for sanctions relief.   "We still continue to assess within the IC (inte

North KoreaJune 25, 2019

US will ask S. Korea to pay more for stationing troops: official

The United States will ask South Korea to pay more for the stationing of American troops on the peninsula once the current cost-sharing accord expires at the end of the year, a US official said Monday.Joy Yamamoto, director of the US State Department's office of Korean affairs, noted that President Donald Trump has made it clear that he wants US allies to pay "a fair share, a greater share of the cost of protecting themselves." "Korea comes under that," she said during a disc

DefenseJune 25, 2019

Trump has no plans to meet Kim in Korea: US official

US President Donald Trump has no plans to meet with North Korean leader Kim Jong-un during his trip to South Korea later this week, a senior US administration official said Monday.Trump will visit Seoul on Saturday and Sunday after attending a Group of 20 summit in Japan, prompting speculation that a Trump-Kim meeting could be arranged at the inter-Korean border."There are no plans for the meeting that you just mentioned," the official told reporters on background in a phone call."

North KoreaJune 25, 2019

Finance chief asks banks to increase lending to smaller firms

South Korea's finance minister on Monday asked heads of major banks to increase lending to small and medium-sized firms as part of efforts to boost the economy.    Hong Nam-ki, the minister of economy and finance, said it would be good if banks extend loans to smaller firms by taking into account their technology and growth potential, even if their collateral is not enough for borrowing.     He made the comments to reporters after a meeting with the heads of 18

MarketJune 24, 2019

Conductor Osmo Vanska hopes to formulate ‘Seoul strategy’ for SPO

The Seoul Philharmonic Orchestra is set to take the next leap in 2020 under the baton of Osmo Vanska, building a “Seoul strategy” together. Vanska was appointed as music director of the SPO in May. He has been chosen for his “affection for orchestra members and broad-minded leadership,” according to SPO CEO Kang Eun-kyung.  Also, Vanska’s fame as an “orchestra builder” was taken in account, Kang said. Leading the Minnesota Orchestra for about 20 yea

PerformanceJune 24, 2019

Man uses stolen IDs to supply 5-year sleeping pill binge

A man, 33, was booked on suspicion of misusing other people’s personal information to obtain sleeping pills, Busan police said Monday.According to the Busan Seobu Police Station, the man obtained a total of 6,157 zolpidem pills over the past five years, starting in April 2014, having made 232 visits to 10 hospitals in Busan. Police say he received the prescriptions in his friends’ names and took an amount exceeding the advised dosage, which is one pill per day.Zolpidem is a psyc

Social AffairsJune 24, 2019

Chungha releases first self-composed song on new album 'Flourishing'

K-pop diva Chungha on Monday released her fourth EP, "Flourishing," whose title track is the first song she has composed.    The fourth track, "Flourishing," is a trap soul number written in English that sends out a message of self-confidence.     The fifth song on the EP, and its main track, "Snapping," is an intense, seductive number that diverges from Chungha's previous summer singles such as "Love U," a track off "Blo

PerformanceJune 24, 2019

Cannes-winning 'Parasite' becomes most-watched Korean film in France

"Parasite," winner of the Palme d'Or at this year's Cannes Film Festival, has set a new record in admissions in France among Korean films released there, the film's overseas distributor said Monday. As of Saturday, the comedy-thriller by Bong Joon-ho had drawn 681,122 moviegoers since its French release on June 5, CJ ENM said. The ticket sales are the highest for any Korean film released in the European country, surpassing the previous record of 678,049 set by Bong's 2013 fea

EntertainmentJune 24, 2019

US nuke envoy to visit Seoul on Thursday: sources

US Special Representative for North Korea Stephen Biegun will arrive in Seoul this Thursday for  talks with his South Korean counterpart and other officials, days before the planned visit to Seoul by US President Donald Trump, diplomatic sources said Monday.    Officials in Seoul and Washington are at the final stage of making arrangements for the nuclear envoy to visit Seoul from that day, according to the sources familiar with the matter. He last visited Seoul in May. 

North KoreaJune 24, 2019

[Graphic News] No. of nuclear warheads worldwide declines

　The overall number of nuclear warheads in the world has declined in the past year but nations are modernizing their arsenals, a report said.　At the start of 2019, the United States, Russia, Britain, France, China, India, Pakistan, Israel and North Korea had a total of some 13,865 nuclear weapons, according to estimates in a new report by the Stockholm International Peace Research Institute. That represents a decrease of 600 nuclear weapons compared to the start of 2018.　But at the same time all

World NewsJune 24, 2019

Hyundai Motor to deliver 2,000 Ioniqs to Singaporean taxi firm

South Korean auto giant Hyundai Motor said Monday it will deliver additional units of Ioniq hybrid to a Singaporean transportation company, prolonging its lead as vehicle supplier in the local market.Confirming its contract with ComfortDelGro, Hyundai Motor will be supplying 2,000 units of Ioniq gasoline hybrid vehicles, 1,500 units by the end of this year and the remaining within the first half of next year, officials said.The Singaporean company, which is the largest transportation business op

MobilityJune 24, 2019

[Newsmaker] North Korean boat spills over to political arena

Controversy over a North Korean boat has spread to the political arena, with the main opposition turning up the heat on President Moon Jae-in. Controversy began earlier this month when it was revealed that the military had announced inaccurate information about four North Koreans who arrived in the South on June 15. In revealing the information, government agencies initially stated that the wooden boat carrying four North Koreans was detected near Samcheok port in Gangwon Province. The mili

PoliticsJune 24, 2019